USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, after plummeting, the USD/CAD pair has formed another correction with Stick Sandwich pattern at its top. Taking into account that reversal patterns are usually confirmed, the latest pattern may signal a further decline as well. The downside target is the support level at 1.2586.
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair reached the support level again and formed several Hammer patterns there. The current situation is similar to the previous one with a lot of Hammer and Inverted Hammer patterns indicating a new growth, this is why we may assume that Hammer patterns may be also followed by a new ascending movement.
RoboForex Analytical Department